Alliancebernstein L.P. Decreases Holdings in Ingersoll Rand Inc. (NYSE:IR)

Alliancebernstein L.P. reduced its holdings in shares of Ingersoll Rand Inc. (NYSE:IR) by 2.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 605,872 shares of the industrial products company’s stock after selling 13,552 shares during the quarter. Alliancebernstein L.P. owned approximately 0.15% of Ingersoll Rand worth $54,807,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the business. Murphy & Mullick Capital Management Corp purchased a new position in Ingersoll Rand in the fourth quarter valued at approximately $36,000. OFI Invest Asset Management purchased a new position in shares of Ingersoll Rand in the 4th quarter valued at $38,000. Lee Danner & Bass Inc. acquired a new stake in Ingersoll Rand during the 4th quarter worth $42,000. Millstone Evans Group LLC purchased a new stake in Ingersoll Rand in the fourth quarter valued at $50,000. Finally, UMB Bank n.a. boosted its stake in Ingersoll Rand by 27.0% in the fourth quarter. UMB Bank n.a. now owns 598 shares of the industrial products company’s stock valued at $54,000 after acquiring an additional 127 shares in the last quarter. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Ingersoll Rand Price Performance

Shares of NYSE:IR opened at $69.51 on Friday. Ingersoll Rand Inc. has a 52 week low of $67.19 and a 52 week high of $106.03. The company has a 50-day moving average price of $85.05 and a 200 day moving average price of $93.22. The company has a market cap of $28.02 billion, a P/E ratio of 33.74, a PEG ratio of 3.50 and a beta of 1.48. The company has a quick ratio of 1.71, a current ratio of 2.29 and a debt-to-equity ratio of 0.46.

Ingersoll Rand (NYSE:IR) last posted its quarterly earnings results on Thursday, February 13th. The industrial products company reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). Ingersoll Rand had a net margin of 11.59% and a return on equity of 12.78%. The business had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.91 billion. Research analysts predict that Ingersoll Rand Inc. will post 3.32 earnings per share for the current year.

Ingersoll Rand Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Wednesday, March 5th were issued a $0.02 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.12%. Ingersoll Rand’s dividend payout ratio is presently 3.88%.

Analyst Ratings Changes

IR has been the subject of several research reports. Robert W. Baird boosted their target price on Ingersoll Rand from $105.00 to $111.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. Evercore ISI reduced their price objective on Ingersoll Rand from $100.00 to $91.00 and set an “in-line” rating for the company in a research note on Wednesday, February 19th. The Goldman Sachs Group raised their target price on shares of Ingersoll Rand from $109.00 to $121.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Stifel Nicolaus reduced their price target on shares of Ingersoll Rand from $100.00 to $94.00 and set a “hold” rating for the company in a research report on Tuesday, February 18th. Finally, Citigroup dropped their price objective on shares of Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $105.09.

Ingersoll Rand Company Profile

Ingersoll Rand Inc provides various mission-critical air, gas, liquid, and solid flow creation technologies services and solutions worldwide. It operates through two segments, Industrial Technologies and Services, and Precision and Science Technologies. The Industrial Technologies and Services segment designs, manufactures, markets, and services air and gas compression, vacuum, and blower products; fluid transfer equipment and loading systems; and power tools and lifting equipment, including associated aftermarket parts, consumables, air treatment equipment, controls, other accessories, and services under the under the Ingersoll Rand, Gardner Denver, Nash, CompAir, Elmo Rietschle brands, etc.